Another highlight of the State of the Economy event was our annual presentation of the Duke Energy Citizenship and Service Award:
Greater Winston-Salem Inc. was honored to host a soldout crowd of over 650 Winston-Salem and Forsyth County business and community leaders in April at the State of the Economy, presented by Reynolds American Inc.!
North Carolina Governor Josh Stein shared thoughtful insights on our state’s economic future. Some of his key points included:
• DOUBLING APPRENTICESHIP PROGRAMS IN THE NEXT FOUR YEARS
• MAKING COMMUNITY COLLEGE FREE FOR STUDENTS PURSUING HIGH-DEMAND CAREERS IN HEALTH CARE, ADVANCED MANUFACTURING, AND IT
• INVESTING $250 MILLION IN WORKFORCE DEVELOPMENT
• EXPANDING UNIVERSAL PRE-K AND KINDERGARTEN READINESS PROGRAMS
Presenting Sponsor: Reynolds American Inc. | Supporting Sponsor: Allegacy Federal Credit Union | Gold Sponsors: Atlantic Union Bank, Carolina Core, Forvis Mazars, Hanesbrands, Inmar Intelligence, Wake Forest University, Womble Bond Dickinson (US) LLP | Floral Sponsor: Truliant Federal Credit Union
GRAHAM BENNETT
ACTIVE PROJECTS
89
ACTIVE PROJECTS
PROJECT PIPELINE
35 PROJECT INTAKE IN Q2
$11B POTENTIAL INVESTMENT
IQ ATTRACTS INTERNATIONAL INTEREST
Winston-Salem’s growing reputation as a global hub for regenerative medicine and life sciences was reinforced as a Japanese delegation visited the city to explore its worldclass research, commercialization, and startup support assets.
ADVANCED MFG | 61
AVIATION | 3 LIFE SCIENCES | 9
FOOD & BEV MFG | 12
BUSINESS | 2
OTHER | 2
20K POTENTIAL JOBS
Greater Winston-Salem Inc. hosted the group as part of a tour organized by the Japan External Trade Organization (JETRO) and the Economic Development Partnership of North Carolina (EDPNC). Their visit to Winston-Salem focused on Innovation Quarter and the city’s broader biotech ecosystem.
ECONOMIC DEVELOPMENT
POLYVLIES EXPANDS HERE
Polyvlies is a global leader in nonwoven fabrics. The company has selected a site in Union Cross Business Park for a new facility. The project will generate 28 new jobs and $31 million in capital investment over five years. The company has operated its North American operations at a nearby existing site since 2014.
EXCEL INTERIOR DOOR
RIBBON CUTTING
Operations are underway at a local relocation project, as Excel Interior Door celebrates its ribbon cutting. The company, headquartered in Alabama, selected a site in Winston-Salem for a new production and distribution facility. The company plans to invest $10.5 million and add 69 new jobs over the next 5 years.
ATRIUM HEALTH EYE INSTITUTE UNDERWAY
Atrium Health has begun renovations to the building that will house its new $100 million Eye Institute, located in the Innovation Quarter. More than 100,000 ophthalmology visits occur each year across Atrium Health Wake Forest Baptist. The Eye Institute is expected to open in 2026.
PHOTO: VESIC PHOTOGRAPHY
PHOTO: ATRIUM HEALTH
SENIOR ACADEMY GRADUATES INVITED TO ATTEND FORSYTH TECH
As we celebrate the 2025 graduates, we are excited to announce that 100+ Senior Academy completers have been pre-accepted into Forsyth Tech to continue their secondary education.
This exciting news highlights the effective collaboration among Greater Winston-Salem Inc., Winston-Salem/Forsyth County Schools, and Forsyth Tech, through Forsyth Works workforce programming.
Senior Academy pairs high school seniors with a mentor who assists them in setting and achieving goals, discovering career interests, and more. Through the program, students also participate in work-ready curriculum, Behind the Scenes visits with local employers, and earn a professional attire stipend provided in partnership with JC Penney. INTERESTED IN MENTORING? CLICK HERE FOR
PHOTO: FORSYTH TECH
GOLF TOURNAMENT
Get involved early to support and participate in our annual Golf Tournament! We’ll play at Bermuda Run on September 29th, and there are multiple opportunities to gain company visibility through sponsorships. Our Early Birdie Special, through July 18th, offers $100 off a team of four with a hole sponsorship.
Presenting Sponsor: Truliant Federal Credit Union
STATE OF EDUCATION
September 17 - Benton Convention Center
WORLD OF WORK
October 22 - LJVM Coliseum
ANNUAL MEETING
November 4 - Benton Convention Center
WINSTON UNDER 40 LEADERSHIP AWARDS
December 9 - Legacy Stables and Events
Q2 NEW MEMBERS
ACE ACADEMY
ACE ACRES EVENT CENTER
ADAMS PROPERTY GROUP
BELMONT INSURANCE GROUP, LLC
BLACK COFFEE & CUISINE
BOOT BARN
BRIGHTWAY INSURANCE, THE ARNESEN AGENCY
CORNERSTONE CONSTRUCTION
ELVIS BLUEPRINT LLC
EXCEL INTERIOR DOORS
FAIRFIELD INN WINSTON-SALEM
FINE LINE HOMES, LP
HG TRANSMISSION OF WINSTON-SALEM
HOLDFAST FAMILY FOODS
JENNTECH SUPPORT SOLUTIONS
LARSON BOOKKEEPING & FINANCIAL
LAZR LLC
LITTLE RICHARD’S BBQ
MAC AND PEARL CATERING
MENTAL REST
MOVEMENT MORTGAGE
NBL MOBILE DETAILING
POINTER CONSULTING SOLUTIONS LLC
POLYVLIES USA INC.
PURPLE CROW
RED CARDINAL
RISE INDOOR SPORTS
RSVP PEIDMONT
SALEM GYMNASTICS & SWIM
SMART MOVE GROUP
STRESS LESS DO MORE THE CREST
THE W GROUP REAL ESTATE
TOTAL MATERNAL SUPPORT
TRIAD MOMS ON MAIN WELLBORNE ROOFING
WINSTON-SALEM CHRISTIAN SCHOOL
LOOKING FOR MORE LOCAL BUSINESSES? Click here to browse our member directory and connect with businesses in Winston-Salem!
LOFTS AT WHITAKER PARK
UNIVERSITY DENTAL ASSOCIATES
OPAL AUTISM CENTER
Q2 RIBBON CUTTINGS
LOFTS @ WHITAKER PARK
CONE HEALTH URGENT CARE
REACH WOMEN’S NETWORK
BOOT BARN
UNIVERSITY DENTAL ASSOCIATES
SPARK BY HILTON
OPAL AUTISM CENTER
CAROLINA ESTATE PLANNING
EXCEL INTERIOR DOOR
SALEM GYMNASTICS & SWIM
CAROLINA DISCO TURKEYS
REDEFINED INTERNATIONAL
SPARK BY HILTON PHOTOS:
557 S. STRATFORD ROAD
RETAIL MARKET
The Winston-Salem retail market remains stable with a vacancy rate of 2.9%, below both its five- and ten-year historical averages. Over the past 12 months, 71,700 square feet of new retail space was delivered, and about 47,000 square feet are currently under construction.
Market-wide average asking rent stands at $17.26 per square foot, with recent leases including Whole Foods Market, Bob’s Discount Furniture, Bobby Boy Bakeshop, and more.
In the investment market, 188 retail properties changed hands over the past year, totaling $195 million in sales volume, slightly above the five-year average. The average sale price was $180/SF, with a market cap rate of 6.6%, higher than the national benchmark.
PRESIDENT’S LETTER
NEW POSSIBILITIES AHEAD FOR 2025 GRADUATES
MARK OWENS PRESIDENT & CEO
With Summer in full swing, it is an exciting time in Winston-Salem as the second quarter comes to a close.
The GWSI team is proud of all of our Winston-Salem graduates and excited to see where you go from here! The future is bright for WS/FCS students, with more than 100 Senior Academy students being offered pre-acceptance into Forsyth Tech through our Forsyth Works partnership, opening doors to continued education and future careers right here in Forsyth County.
Economic development activity remains strong with 89 active projects and continued growth in investment and job creation. This quarter, Polyvlies announced it will expand its local footprint manufacturing nonwoven fabrics, adding 28 jobs and $31 million in investment, benefiting our tax base.
In April, we had the honor of hosting North Carolina Governor Josh Stein at our annual State of the Economy event—one of the largest gatherings in our organization’s history. His insights into North Carolina’s economic landscape reinforced our region’s strong trajectory and growing reputation as a business-friendly environment.
That reputation was nationally recognized this quarter as Winston-Salem was named one of Livability’s Top 100 Places to Live, affirming what we already know— our city is a great place to live, work, and grow.
Thank you for your continued partnership and commitment. We have many more exciting and impactful events and programs coming up in the second half of the year, and we invite you to join us in generating change and momentum!
